Q4 Highlights: Reliance Jio Reports Robust Growth with Net Profit Soaring to Rs 5,337 Crore
Reliance Jio InfoComm shared its latest earnings for the last three months. They made a profit of 13.17% more than before. This was because more people joined their service. Jio is the telecom part of Reliance Industries Ltd (RIL).
In the January-March quarter, they made a net profit of Rs 5,337 crore. Last year, during the same time, they had made Rs 4,716 crore.
The company made more money in the last quarter, with its revenue going up by about 11% to Rs 25,959 crore in Q4 FY24. They also spent more, with their total expenses growing by 10.2%.
As of March 31, 2024, the company's total assets were worth Rs 4,87,405 crore, compared to Rs 4,45,772 crore last year.
Their net profit margin improved to 17.5% in Q4 FY24 from 17.1% last year.
Jio is working on its 5G network and making its current wireless and wired network stronger.
Later today, the company will share its average revenue per user (ARPU) and how many new customers it got, along with its parent company RIL's results.
"Reliance's standalone segment is expected to do better in refining, but petrochemicals might not do as well. We think Jio will have about 2% more customers compared to last quarter, with an average revenue of Rs 182 per month. The retail segment should continue to do well," said Prabhudas Lilladher.
In 2024, RIL's shares have gone up by 14.39%, while the BSE Sensex rose by 1.90%. The BSE oil & gas index went up by 23% during the same time.
Remember, this news is for information only and not investment advice. It's a good idea to talk to a financial advisor before making any investment decisions.
Mukesh D. Ambani, chairman and managing director of Reliance Industries Limited, mentioned, 'The digital services segment's performance got a boost from adding more subscribers quickly. This growth came from both mobile and fixed wireless services. Jio has over 108 million True 5G customers, leading the 5G transformation in India.'
Jio's wireless 5G broadband service, Jio AirFiber, is now available in 5,900 cities and towns, with plans to cover all of India soon. The average daily data usage for AirFiber users is 13 GB, which is 30% higher than JioFiber users. Jio AirFiber is a fixed wireless access service that offers fast internet speeds without needing a direct fiber connection to homes. This is different from JioFiber, which requires a direct fiber connection to homes.
Reliance Jio, the telecom part of Reliance Industries, did as expected for the March quarter. Their revenue went up by 11% and net profit by 13% compared to the same time last year.
Compared to the previous quarter, net profit was 2.5% higher at ₹5,337 crore, and revenues were up 2.3% at ₹25,959 crore. The company shared these results after the stock market closed on Monday.
Some brokerages, like BofA Securities, thought the revenue would increase by 0-3%, and Morgan Stanley expected the net profit to go up by 1.7% from the previous quarter. BofA also guessed that the Ebitda (earnings before interest, taxes, depreciation, and amortization) would stay the same compared to last year. However, Jio’s Ebitda actually went up by 11.5% to ₹13,612 crore from ₹12,210 crore in the same quarter last year.
Reliance Q4 Results Updates: Net profit goes down by 1.8% YoY to ₹18,951 crore, announces dividend of ₹10 per share!
Reliance Q4 Results Updates: RIL, led by billionaire Mukesh Ambani, shared its fourth-quarter financial results on April 22. The company's net profit decreased by 1.8% to ₹18,951 crore compared to last year. However, its revenue went up by 11%, reaching ₹240,715 crore for the quarter ending on March 31, 2024. Also, EBITDA (earnings before interest, taxes, depreciation, and amortization) grew by 16.1% from last year, reaching ₹178,677 crore.
Additionally, the company announced an interim dividend of ₹10 per equity share for the financial year that ended on March 31, 2024.
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